Investing.com

Investing.com - The dollar was steady against the yen on Thursday, after surprising strong U.S. housing data, but heightened tensions in Ukraine looked likely to underpin safe haven demand.



USD/JPY was trading at 102.35, having eased back from Wednesday’s highs of 102.60 in rangebound trade.



The pair was likely to find support at 101.90 and resistance at 102.70.



The dollar was boosted after the Commerce Department reported Wednesday that new home sales rose to their highest level since July 2008 in January. Sales of new homes climbed 9.6% last month to 468,000, compared to expectations for a 1% decline, while sales in December were revised upward.



The data came after a recent series of disappointing U.S. economic reports raised doubts over the strength of the recovery.



The euro was little changed close to two-week lows against the dollar, with EUR/USD trading at 1.3685, after falling to lows of 1.3660 on Wednesday.



The drop in the euro came after reports that Russian President Vladimir Putin ordered 150,000 Russian troops to begin military exercises in central and western Russia, near the border with Ukraine.



The move prompted the United States to warn Russia that it would be a "grave mistake" to intervene militarily.



Elsewhere, the euro was flat against the yen, with EUR/JPY trading at 140.11, not far from Wednesday’s lows of 139.64.



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